There’s a lot to consider when starting or operating a retail or wholesale business. With so many varieties of retail and wholesale operations, the industry has become highly competitive. At Platinum Accounting & Taxation we have a sound knowledge of the key drivers, market trends and regulations that are critical for your business success.
Some might say that there are low barriers to entry into retail and wholesale businesses. But any savvy retailer or wholesaler knows that a successful business in this industry requires an in-depth understanding of product merchandising, stock control, market research, marketing and promotion, negotiating skills with suppliers – as well as knowing the numbers!
At Platinum Accounting & Taxation in Melton, we’re experts in accounting for retailers and wholesalers. Regardless of whether you’re just starting out, or if you own an established retail or wholesale business, our award-winning accountants can set you on the path to sustainable profit, growth and success.
Business structure and start-up advice for retailers and wholesalers
No matter how great your business idea is, resist the temptation to dive right into a start-up retail business. The failure rate of Australian retail businesses reached a record-high in September 2018. It’s a worrying statistic if you’re just starting out. However, with a brilliant concept, coupled with the right advice and careful planning, you can be one of the good news stories.
At Platinum Accounting & Taxation, we’re specialists in the start-up space. If you’re planning to open a retail or wholesale business – ‘bricks and mortar’ or online – we can help you hit the ground running. We offer fixed-fee business coaching packages designed specifically for start-ups. These comprehensive, affordable packages will give your retail store or wholesale business the best chance of success throughout the critical early stages.
Setup costs for retailers and wholesalers can be expensive, but we work with you to create realistic budgets and effective cash flow strategies. If you need finance for stock and shop fit outs, we can even connect you with a lending specialist.
Here’s a snapshot of how we help start-up retail and wholesale businesses:
- Determine the best business structure for your retail or wholesale business
- Create actionable business and marketing plans
- Provide effective strategies to legally minimise tax and protect your assets
- Set up strong cash flow management systems – critical for those first few years
- Advise on profitable product and service pricing strategies
- Offer ongoing mentoring and support to keep you on the path to success
A range of accounting services in store for retailers and wholesalers
In addition to business structure and start-up advice, we offer a full range of accounting services for retailers and wholesalers. From basic services like bookkeeping and BAS preparation, all the way through to complex tax strategies that save you serious time and money. Here are some of our key services:
- Real-time business accounting
- Cloud bookkeeping
- Xero and QuickBooks Online software training
- Tax compliance
- Taxation advice
- Tax return preparation
- BAS preparation
- GST set up, advice and lodgement
- Cash flow forecasting and budgeting
- Managing funding and working capital
- Business re-structure advice
- Payroll, superannuation and FBT
- Business coaching
All the latest tools for stock demand forecasting
Utilising the latest technology is critical for anyone who operates a retail or wholesale business. At Platinum Accounting & Taxation, our tech-savvy accountants stay up to speed with new tools, technology and software. We’re experts in cloud accounting and can help you select the best accounting software for your specific needs, such as inventory and stock control solutions.
With cloud accounting technology, you can provide us with online access to your financial data. That means we can deliver real-time advice and support for all your accounting and bookkeeping needs. Choose from one of our fixed-fee business accounting packages or cloud bookkeeping packages or ask us to tailor a solution that’s perfect for you. Whichever option you choose, we promise outstanding value and peace of mind for an affordable monthly fee.
Strive for business success with Platinum Accounting – Get started today
Contact us to find out more about our accounting services for retailers, online retailers, online stores and wholesalers. We’re located in Melton, but we work with retailers and wholesalers across Melbourne and beyond, including Bacchus Marsh, Brookfield, Eynesbury, Deer Park, Gisborne and Caroline Springs.